After the highly destructive Pacific Palisades fire last January, which burned thousands of homes, many residents are now staying in hotels, shelters, or with friends and family while searching for a more permanent home in a rental.
If you are looking for a luxury home rental, here are some things you should know.
Understanding the Need for Temporary Housing After a Fire
Displaced homeowners from the Pacific Palisades fire may find it more advantageous for them to rent a luxury home than to rebuild or buy a property in California.
The process of getting an architect and going through the planning, permitting, and building process will likely take three years or more. California wildfires, especially those in Los Angeles, are likely to aggravate the existing housing crisis in the region and drive up home prices in the affected areas and surrounding neighborhoods.
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Benefits of Choosing a Fully-Furnished Luxury Rental During Displacement
With the stress a wildfire can bring, a fully-furnished luxury rental offers unparalleled convenience so you don’t have to worry about your living situation and can focus on more important things.
Renting a furnished luxury home that meets your family’s needs and is located in a convenient area can provide stability and a sense of normalcy during displacement.Â
This type of housing comes with everything you need for daily living, helping you transition effortlessly and feel like you’re home. Work with your insurance company to ensure the rental costs are covered under your ALE coverage.
Working with Insurance Companies to Cover Housing Costs
After experiencing such tragedy, one resource that can provide crucial assistance to Palisades residents is additional living expenses (ALE) coverage which is often included in homeowners insurance policies.Â
ALE coverage can help alleviate the financial burden of being displaced from your Palisades home after the recent fire. It is designed to help you maintain your usual standard of living, providing financial assistance for necessary expenses such as a rental home.
Insurance companies are required by California law to provide at least two weeks of ALE payments and up to four months of advance payments to homeowners who suffered from the fire, even before submitting a detailed list of losses.Â
Although dealing with the aftermath of the Palisades fires can be overwhelming, it is essential to take action immediately.Â
Finding the Right Long-Term Vacation Rental for Displaced Residents
When searching for a long-term vacation rental, here are a few things to consider:
Rent is one of the top considerations when searching for a long-term rental. Your insurance most likely has a cap on reimbursement, so it is best to look for a home that best aligns with your available coverage.
Choose a rental close to your work or business. For those with children, a house near their school is also ideal. It would also be advantageous to live near other amenities and services like hospitals and fitness centers.
Look for a home located in a community that most closely resembles the lifestyle you have been enjoying in your previous neighborhood.
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How to Secure Temporary Luxury Housing After a Fire
Owning a home in the Pacific Palisades is supposed to provide stability, but a major disaster such as the recent wildfire can send many homeowners in search of temporary housing.
Here are the steps involved when securing temporary housing after the Palisades fire:
Your homeowners’ insurance policy most likely includes ALE coverage. As such, you have the right to ask your insurer to send you an advance on living expenses, such as housing costs.
Contact your insurance agent before you go hunting for accommodations. Work out an understanding of the reimbursement you can expect and confirm this in writing.
Have a copy of documents establishing your qualifications, such as proof of support from your insurance company, credit report, proof of employment, and proof of income.
In a major disaster, such as the recent Palisades fire, the Federal Emergency Management Association or FEMA might join the recovery effort. This agency primarily helps those who don’t have homeowners’ insurance, as well as those who are not getting what they need from their insurance carrier.
The Role of Property Management Companies in Disaster Housing
Although property management companies primarily handle rental properties, they may be able to help you find temporary housing or connect you with resources to assist you in finding a new home after the Palisades fire.
In California, many licensed real estate professionals have taken the initiative to provide home options for displaced families, including temporary luxury housing for Palisades fire victims.
Considering the shortage of homes for sale in the area, many sellers are willing to forego their original plan of putting their properties on the market and have these rented out for long term lease instead.
Working with a real estate agent is a cost-effective way to find the perfect home that would provide you with a comfortable and secure place to live in temporarily.
How to Transition Back to Permanent Housing After Temporary Stay
Once you’re permanent housing is ready for you to move into, here are the steps to take so you can transition smoothly:
- Give your rental provider advance notice according to your lease agreement.
- Coordinate move-out logistics with moving companies or your insurance provider.
- Prepare yourself emotionally for the move back home.
- Address any final claims with your insurer for uncovered expenses, if there are any.
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Additional Resources for Fire Victims Seeking Housing Assistance
Here are some resources to consider that might be helpful with housing assistance after the Palisade wildfire.
Frequently Asked Questions
In California, insurance policies typically cover temporary housing costs for a period of up to 12 months. Some policies offer longer coverage or have dollar limits.
To file an insurance claim after the recent fire, you’ll need your policy number, personal identification, proof of ownership, and any pre-existing damage records.
Following the Palisades fire, finding temporary housing could be quick, with resources and protections in place, such as expedited housing options and eviction protections, to help displaced residents.
